Chinese after Foster’s Wine Spin-Off

More China Wine Market News…

Rumor has it that Bright Food Group, the Shanghai-based food and beverage giant, is after Treasury Wine Estates (owner of Lindeman’s and 53 other brands) – the wine business Foster’s spun off in May. If true, it would make perfect sense.

It would seem a good fit for Bright Food, which is state-owned and so far only produces Chinese white spirits (somewhat comparable to a strong vodka). There is a huge shift away from Chinese white spirits to red and white wines, particularly at banquets – traditionally a bastion for Chinese spirits.